FOREX TRADE ALERT for EUR/USD | BUY SIGNAL

Forex Trade Alert for – Symbol EUR/USD.

Forex Trade Alert for Wednesday Feb 04, 2009.

Next Day Trading Ranges for Wednesday Feb 04, 2009.

The 20 day moving average of the daily trading range is 234 Pips and the 60 day moving average of the daily trading range is 256 Pips. This shows that volatility has decreased in the short term. The percentage of downdays when the open/high ratio is less than 25% is 73.03 percent. This means that if this Currency Pair EUR/USD does not rise more than 59 Pips from the opening price then there is a 73.03 percent chance that this will be an downday.

The [R3] or the most extreme high trading range is 1.3135.

The [R2] or the extreme high trading range is 1.3091.

The [R1] or the high trading range is 1.3042.

The [P] or pivot point is 1.2998.

The [S1] or the low trading range is 1.2950.

The [S2] or the extreme low trading range is 1.2906.

The [S3] or the most extreme low trading range is 1.2857.

Next Day Alternate Stops for Wednesday Feb 04, 2009.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price rises above 1.3091 then that would show momentum whith 4xGenie‘s Long position and that would be a break out to the upside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.

Current Day Trading Session:

Momentum is continuing downward at the present time.

Next Day Trading Session:

If the next day’s close is above 1.2968 then that could be a sign that the current downward momentum is reversing.

4xGenie Support Team
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